Chapin Davis Inc. Has $470,000 Stock Position in McDonald’s Co. (NYSE:MCD)

Chapin Davis Inc. cut its holdings in McDonald’s Co. (NYSE:MCD) by 6.1% during the second quarter, Holdings Channel.com reports. The firm owned 1,844 shares of the fast-food giant’s stock after selling 120 shares during the quarter. Chapin Davis Inc.’s holdings in McDonald’s were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MCD. Concentric Wealth Management LLC boosted its stake in shares of McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after buying an additional 35 shares during the last quarter. Mechanics Financial Corp grew its stake in McDonald’s by 0.7% in the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares in the last quarter. FinTrust Capital Advisors LLC increased its position in shares of McDonald’s by 2.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 36 shares during the last quarter. 9258 Wealth Management LLC boosted its holdings in shares of McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after buying an additional 37 shares during the last quarter. Finally, ICW Investment Advisors LLC grew its stake in shares of McDonald’s by 0.4% in the fourth quarter. ICW Investment Advisors LLC now owns 9,548 shares of the fast-food giant’s stock valued at $2,831,000 after buying an additional 38 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD traded up $3.62 during trading hours on Friday, hitting $278.49. 3,286,217 shares of the stock were exchanged, compared to its average volume of 3,568,595. The company’s fifty day simple moving average is $258.71 and its two-hundred day simple moving average is $270.87. The company has a market cap of $200.70 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business posted $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s payout ratio is presently 56.71%.

Wall Street Analysts Forecast Growth

MCD has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Guggenheim upped their price objective on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Evercore ISI reduced their target price on McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Jefferies Financial Group decreased their target price on McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Finally, KeyCorp cut their price target on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $303.00.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the sale, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,794 shares of company stock worth $1,234,491. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.